U.S. oil rig count rises for 11th straight weekStaff Writer | March 31, 2017
The U.S. oil-rig count increased by 10 to 662 this week, according to oilfield-services giant Baker Hughes.
Oil exploration The gas-rig count rose by five to 160
The deal between OPEC and some non-members to reduce output by 1.8 million barrels per day (bpd) in the first half of 2017 has not substantially lowered global oil stockpiles.
With U.S. oil rigs still on the rise, production will likely remain robust. ■